Senegalese startup SociumJob secures US$1m to pursue Francophone Africa talent market

SENEGAL – SociumJob, a Senegalese job network that connects African firms with local and diaspora talent, has raised one million euros (US$1M) to enhance its rollout in French-speaking Africa. The funds were raised between February and May 2022, one million euros (US$1M) from venture capital funds such as Breega, Teranga Capital, Kima Ventures, Techmind, and Evolem Start. Business angels such…

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Monetic Group raises funding from 500 Global to build Kalispot network in West and Central Africa

SENEGAL – Outsource Monetic Group, an American and Senegalese fintech based in Atlanta, has announced the closing of a pre-seed fundraising round with 500 Global, a startup accelerator company based in San Francisco, USA. The fintech also announced the launch of the pilot phase, in Senegal and Côte d’Ivoire, of its private ATM network branded KaliSpot. The KaliSpot network is…

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Moroccan ticketing website Guichet.com expands to Senegal

SENEGAL – Guichet.com, the first Moroccan ticketing website, has announced the formal opening of its subsidiary in Senegal, in a first international expansion outside of Morocco. The new company, which has its headquarters in Dakar, was created as a result of a strategic alliance with a top Senegalese operator. The Moroccan ticketing platform intends to support the growth of the…

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Wave Mobile Money secures US$91m investment from IFC

WEST AFRICA – IFC has announced a US$91.6 million investment agreement in Wave Mobile Money S.A. (Senegal) and Wave Côte d’Ivoire S.A., two major mobile money service providers in their respective markets, to strengthen financial inclusion and support economic growth in Senegal and Côte d’Ivoire. The funding from the IFC and other investors will allow Wave to expand its operations…

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Distribution platform Afrikamart raises US$850k seed fund for its expansion plan

SENEGAL – Afrikamart, a startup that is using digital technology to revolutionise the value chain of fresh agricultural produce, has raised US$850,000 in seed funding from BLOC Smart Africa, a fund managed by Bamboo Capital Partners, Orange Ventures, Launch Africa, and Teranga Capital. This funding will allow the company to continue improving its model and expand in Senegal. “Since the…

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Avanti Communications partners Free to build and host new HYLAS 4 satellite gateway in Senegal

SENEGAL – Avanti Communications (“Avanti”) has signed a five-year partnership agreement with Free to build and host a new satellite gateway in Senegal for Avanti’s HYLAS 4 state-of-the-art Ka-band satellite. The new gateway will extend the coverage of Avanti’s latest satellite, HYLAS 4, to Senegal and the neighboring West African countries of Guinea, Sierra Leone, Guinea Bissau, Gambia, and Liberia,…

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ACT Afrique Group appoints Mr. Papa Oumar Syr Diagne as Director, Head of Financial Advisory

SENEGAL – The pan-African strategic, financial and communications advisory firm ACT Afrique Group has appointed Mr. Papa Oumar Syr Diagne as Director, Head of Financial Advisory by decision of  April 15, 2022. In his new role, Papa together with the team will continue to propel the platform’s goal of serving a wide range of clients in the public and private…

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Senegal-based B2B marketplace start-up Kwely secures US$1M seed funding round

SENEGAL – Kwely, a Senegalese B2B wholesale distribution platform for made-in-Africa products, has secured US$1M in seed funding with an additional US$700,000 fresh capital injection. The seed funding round was led by WIC Capital with participation from Loftyinc Capital, Afropreneur Angels, Haskè Ventures, and other angel investors. The company will use the funds to support Kwely’s marketing and distribution of…

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Wood wins contract for FPSO unit development offshore Senegal

SENEGAL – Wood, a British multinational engineering and consulting company has been awarded a contract by Woodside Energy for the Sangomar FPSO development, located 100km south of Dakar, Senegal. The floating production storage and offloading (FPSO) facility is specifically designed for the processing of hydrocarbons and the storage of oil before being transported to markets around the world. On completion…

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Ecobank grants US$1.6M to WIC Capital to back female entrepreneurs in Senegal

SENEGAL – Ecobank, a pan-African banking conglomerate has signed a one billion CFA franc (US$1.6 million) collaboration contract with “Women’s Investment Club” (WIC) Senegal to support female entrepreneurship in Senegal. The financial partnership is a core component of the “Ellever” program, which aims to support women’s activities that encourage financial independence by making it easier for them to use modern…

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